Tag: BONELESS VEAL MEAT

Following our new guidelines, we are pleased to offer our customers a new Safe Procedures and payment method for all Beef transactions.

This method makes it very easy for the customer, and at the same time we are required to perform in-depth and comprehensive checks to make sure that the buyer is the final buyer and that he has the financial capabilities to execute the transaction.

With the current method of payment, the buyer is required to open an LC, the seller’s bank issues B/L and shipping documents to Buyer’s Bank, after all verification Buyer issues payment. (100% at Sight)

Here’s the New procedure:

PAYMENT TERMS:

100% at sight IRREVOCABLE, TRANSFERABLE and CONFIRMED, DLC (MT 700) opened upon INVOICE, payable against documents and will be sealed after terms agreement. Payment monthly for shipment of 12 months contract. TOP 25 Banks.

INSPECTION:

By SGS or equivalent at loading port at the expense of the seller; all costs in the loading port are the Seller’s expense.

PROCEDURES:

The Buyer sends LOI with his/her KYC, including this procedure

The Seller issues the FCO

The Buyer sends the ICPO (Irrevocable Corporate Purchase Order), complete with his bank’s data and attached BCL or RWA from the Buyer’s Bank.

The Seller sends the Draft Contract, for signed by Seller and Buyer and sealed, within 72 hours, the copy will be deemed legal.

The Buyer opens the DLC and Credit Facilities within 7 (seven) banking days, in the Seller’s account, as Proof of Funds.

Buyer and Seller are in acceptance of all documents, Seller starts product for loading in Brazilian port.

Seller in 30/40 +/- days Seller presents the shipping documents and (BL) to the Buyer, for payment of DLC by MT 103.

LOI MUST BE ON END BUYER’S LETTERHEAD ADDRESSED TO “MADNOX TRADE DESK”, WITH FULL CONTACT DETAILS, AND MUST INCLUDE THE ABOVE PROCEDURES. PLEASE NOTE, THAT AS OF TODAY, WE DO NOT DEVIATE FROM OUR PROCEDURES. OUR PROCEDURES ARE THE SAFEST ON THE MARKET, 100% AT SIGHT, UNTIL ALL SHIPPING DOCUMENTS ARE SENT BANK TO BANK, DOCUMENTS ARE VERIFIED AND PAYMENT IS MADE BY TT.